Business News
Home > Business News
With no respite for FPIs, Sensex nosedives 560 pts
TIWN
TIWN
PHOTO : TIWN
Mumbai, July 20 (TIWN) As the government swept aside any scope of revoking or tweaking the tax on "super-rich" adversely affecting a chunk of FPIs, a major driver of Indian stock market, Sensex on Friday slumped over 560 points.
“Fear of further outflow of foreign funds is the main trigger today as the government has made it clear that the tax on the super-rich is here to stay,” Siddhaart Khemka, Head of Retail Reseach, Motilal Oswal told IANS. The Sensex closed 560.45 points lower at 38,337.01 while the Nifty declined by 177.65 points to 11,419.25.
Add your Comment
Comments (0)
More Business News
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals